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welch, former ceo of ge. here is what he said. >> well, and the last two months we have gone from 83-81. now we are going to 7.8% by changing the numbers assumptions. like. i don't know if -- what the right number is. i tell you, these numbers don't smell right when you think about where the economy is right now. gerri: gary, to you first. is the bls giving as ps? >> it is the bs. look. three months ago i said that even if we got newt we would be under 8% because the politics of it. we saw 30 days ago the fed announced a open ended printing of money to get asset prices up, and they say 50 days before election, this one is a joke. if you noticed anything about this number, the estimates of job gains came in the exact amount it was supposed to which should have kept it at 8.2%. the estimates, somehow we got to 7.8%, and the use the most of tiles survey, the household survey. gerri: we will get to that. >> 400,000. gerri: can these numbers be sai's? >> i don't think they can. we have had rumors of bls massaging
welch, former ceo of ge. here is what he said. >> well, and the last two months we have gone from 83-81. now we are going to 7.8% by changing the numbers assumptions. like. i don't know if -- what the right number is. i tell you, these numbers don't smell right when you think about where the economy is right now. gerri: gary, to you first. is the bls giving as ps? >> it is the bs. look. three months ago i said that even if we got newt we would be under 8% because the politics of it....
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more about jack welch and g.e. and accurate numbers more in this show later. we have an interview with cnbc. >> we have a very professional civil service organization where you have top, top economists that work at the bls. it's really ludicrous to hear that kind of statement. >> eliot: and the always wise economic adviser had this message for jack welch. i quote love you jack, but here you've lost your mind. what a coincidence joining me now is austan goolsbee, former chairman of president obama's council of economic visors. conspiracy theories running wild, and how you generate them. what is your take on this. >> okay, the numbers come from iron fortress, somewhere in the bls. it's absolutely and totally ridiculous to say some how some political people changed the numbers in bls. it makes no sense whatsoever. look i'm friends with jack welch. he's a great guy. i have no idea what he's talking about. this is birtherrest crazy stuff. i don't know how you get--the same people saying that it's outrageous that the survey showed a lot more jobs than expected this
more about jack welch and g.e. and accurate numbers more in this show later. we have an interview with cnbc. >> we have a very professional civil service organization where you have top, top economists that work at the bls. it's really ludicrous to hear that kind of statement. >> eliot: and the always wise economic adviser had this message for jack welch. i quote love you jack, but here you've lost your mind. what a coincidence joining me now is austan goolsbee, former chairman of...
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follow jack welch at jack underscore welch. i'll be tweeting tonight. >>> up next, mitt romney now says his remarks on the 47% were in his words, totally wrong. why did he spend the last two weeks defending them and his surrogates did? keeping them honest on that. and looking to appear more moderate on a whole range of issues. we'll be right back. ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. that make kids happy. and even fewer that make moms happy too. with wholesome noodles and bite sized chicken, nothing brings you together like chicken noodle soup from campbell's. it's amazing what soup can do. like chicken noodle soup from campbell's. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, b
follow jack welch at jack underscore welch. i'll be tweeting tonight. >>> up next, mitt romney now says his remarks on the 47% were in his words, totally wrong. why did he spend the last two weeks defending them and his surrogates did? keeping them honest on that. and looking to appear more moderate on a whole range of issues. we'll be right back. ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of...
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follow jack welch at jack underscore welch. i'll be tweeting tonight. >>> up next, mitt romney now says his remarks on the 47% were in his words, totally wrong. why did he spend the last two weeks defending them and his surrogates did? keeping them honest on that. and looking to appear more moderate on a whole range of issues. we'll be right back. ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. whatever your business challenge, one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a drea
follow jack welch at jack underscore welch. i'll be tweeting tonight. >>> up next, mitt romney now says his remarks on the 47% were in his words, totally wrong. why did he spend the last two weeks defending them and his surrogates did? keeping them honest on that. and looking to appear more moderate on a whole range of issues. we'll be right back. ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of...
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you are jack welch. jack, you've got to take this opportunity while everybody is listening to you to actually say, yes, anderson, i'm taking that tweet back. i'm going to send a new tweet to say i was exaggerating. there are problems, maybe bls should look into it, but throwing out the accusation, that's like asking the government, how often do you beat your wife? >> i should have had a question mark at the back of it, ali, let's face it, okay? the facts are, ali, no matter how you want to look at this, we had 25 economists polled before this number came out. the average number they expected was about 115,000. not one of them had a number below 8.1. they were republicans and they were democrats. and all of a sudden -- >> i agree with you. >> you agree with that? >> i agree with everything you're saying, jack, and if your question was -- >> i wake up this morning and it's 7.8 with a bunch of assumptions. >> as the best ceo that america has ever had, there are two very powerful things you can say here. one
you are jack welch. jack, you've got to take this opportunity while everybody is listening to you to actually say, yes, anderson, i'm taking that tweet back. i'm going to send a new tweet to say i was exaggerating. there are problems, maybe bls should look into it, but throwing out the accusation, that's like asking the government, how often do you beat your wife? >> i should have had a question mark at the back of it, ali, let's face it, okay? the facts are, ali, no matter how you want...
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jack welch does not believe the boys in chicago changed the numbers? >> no, jack welch is raising the question for some good analyst to go look at. >> okay. good. you're raising the question. you certainly did that. jack welch, thank you for joining us at the very top of "hardball" tonight. >> thank you. >> with me not to fight with jack but to have a different point of view is jared bernstein, former chief economist and economic adviser to vice president biden. you heard that discussion. i like jack. i'm fond of the guy. jack welch has raised the question, but it was obviously his business instinct and his attitude i think towards this president that came together at 8:35 and he tweeted out this, unbelievable jobs numbers. these chicago guys will do anything. can't debate so they change the numbers. i'll go back to what i heard ezra klein say in the room, that a 0.3 of 1% shift in the unemployment rate is not wild. it's very conceivable. your thoughts. >> that's absolutely true. i mean, what i just heard from jack welch was about -- with respect i gue
jack welch does not believe the boys in chicago changed the numbers? >> no, jack welch is raising the question for some good analyst to go look at. >> okay. good. you're raising the question. you certainly did that. jack welch, thank you for joining us at the very top of "hardball" tonight. >> thank you. >> with me not to fight with jack but to have a different point of view is jared bernstein, former chief economist and economic adviser to vice president...
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jack welch, the former ceo of general electric as you just mentioned on squawk out on twitter today. he's been obviously critical of the white house for years now, but he says unbelievable jobs numbers. these chicago guys will do anything. can't debate so change numbers. that's the former head of a very large company. >> i'm on tv, and i remember jack sent me a fax when i was first on with mark haynes. i like you. i love jack. i'm trying to reconcile jack with the numbers because i trust jack and think he's terrific. i come back and say listen, they've been wrong -- he's jack. i don't think that they're phony. it doesn't make me feel that jack is off the reservation so much that i think that this particular issue -- i disagree with him. i read the tweet and i was, darn, jack, come on, man. >> let's say good is good. >> does this mark the turning point and we had david come out this morning where he was establishing 1575 and that's quite an upside for 2013 particularly if he's standing by a year-
jack welch, the former ceo of general electric as you just mentioned on squawk out on twitter today. he's been obviously critical of the white house for years now, but he says unbelievable jobs numbers. these chicago guys will do anything. can't debate so change numbers. that's the former head of a very large company. >> i'm on tv, and i remember jack sent me a fax when i was first on with mark haynes. i like you. i love jack. i'm trying to reconcile jack with the numbers because i trust...
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he put up i agree with former ge ceo jack welch. chicago-style work involved it. solis responded to the suggestion the numbers were cooked. >> i'm insulted when i hear that, because we have a very professional civil service organization where you have top, top economists that work at the bls. they've been doing these calculations. these are our best trained and best skilled individuals that have been working in the field. it's really ludicrous to hear that kind of statement. >> let's bring in our "news nation" political panel today. john harwood and zachary ca caribel. thank you, gentlemen, for joining me. john, i want to come to you first because i want to play what president obama and governor romney said just a short time ago reacting to the jobs reports. let me play those first, both of them. >> there were fewer new jobs created this month than last month, and the unemployment rate as you noted this year has come down very, very slowly. it's come down nonetheless. the reason it came down this year is primarily due to the fact that more and more people have jus
he put up i agree with former ge ceo jack welch. chicago-style work involved it. solis responded to the suggestion the numbers were cooked. >> i'm insulted when i hear that, because we have a very professional civil service organization where you have top, top economists that work at the bls. they've been doing these calculations. these are our best trained and best skilled individuals that have been working in the field. it's really ludicrous to hear that kind of statement. >>...
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welch, jack welch needs to be out there helping the country get back on track. there are ceos and all sorts of people, re-tweeting what he has said. i think there are questions to be asked about the methods, pay take pla -- attention to the survey, the hours worked, that is what touches people. to say something like this is like donald trump, saying that president obama is not a citizen, without any proof. you are jack welch, take this opportunity while people are listening to you, i'm taking the tweet back, i exaggerated, there are problems, that is like asking the governor, how often do you beat your wife? >> i should have had the question mark on the back of it. let's face it, the fact is, we had 25 economists polled before this number came out. the average number they expected was about 115,000. not one of them did have a number below 8.1. >> all right, jack welch there, and the next number is due out in just four days before the election. >>> all right, would you believe that a 220 pound teacher is suing, because he said a 60 pound student beat him up. our
welch, jack welch needs to be out there helping the country get back on track. there are ceos and all sorts of people, re-tweeting what he has said. i think there are questions to be asked about the methods, pay take pla -- attention to the survey, the hours worked, that is what touches people. to say something like this is like donald trump, saying that president obama is not a citizen, without any proof. you are jack welch, take this opportunity while people are listening to you, i'm taking...
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welch. what does it say about partisanship in the country? >> it says that the partisanship starts to rot people's brains. the theory is just -- we need a good name for this. i nominate job nutters. but this really is ridiculous. this is -- first things first, this is good news for the country. and, yes, it benefits the president because it adds to argument. it takes away the argument that unemployment rate's been over 8%. it's a positive sign for the country. and frankly, it gives the president a boost in the wake of a terrible debate performance. but bottom line, it's a sign that the trend is moving away from the debt sweep we've dealt with. >> let me pick up on that. we heard david kerley say some democrats are saying what debate? how much of a boost does it really give the president, given the lackluster nature of his performance the other night? >> it doesn't give the president a do-over. he still had a lousily first debate. that hurts. it hurts. it's not determinative. ultimately, the
welch. what does it say about partisanship in the country? >> it says that the partisanship starts to rot people's brains. the theory is just -- we need a good name for this. i nominate job nutters. but this really is ridiculous. this is -- first things first, this is good news for the country. and, yes, it benefits the president because it adds to argument. it takes away the argument that unemployment rate's been over 8%. it's a positive sign for the country. and frankly, it gives the...
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even jack welch, the former ceo of ge went on twitter to accuse the president of changing the numbers. >> i tell you, these numbers don't smell right when you think about where the economy is right now. >> reporter: the labor department called the allegations ludicrous. we went directly to the place where it's all done. this vast government building, a couple of miles from the white house, houses the labor department's bureau of labor stay twist icks. the bls has been tabulating the rate for more than 70 years. all based on a survey conducted in person and over the phone of 60,000 households every month. and here is where the numbers get crunched. amid a sea of cubicles, inside of each one, an economist sworn to secrecy and working on a specific aspect of that employment survey. tom is in charge here. he's worked at bls since before ronald reagan was president. he introduced us to the economist who actually wrote this morning's unemployment rate announcement. how much of a secret is that number before you put it out? you can't call me up and tell me -- >> i can't tell anyone. it's a c
even jack welch, the former ceo of ge went on twitter to accuse the president of changing the numbers. >> i tell you, these numbers don't smell right when you think about where the economy is right now. >> reporter: the labor department called the allegations ludicrous. we went directly to the place where it's all done. this vast government building, a couple of miles from the white house, houses the labor department's bureau of labor stay twist icks. the bls has been tabulating the...
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former chairman and ceo of ge jack welch tweeted -- welch was backed in his theorizing by master of the outlandish alan west who wrote -- this is orwellian to say the least and representative of saul au lin ski tactics from the book rules for radicals" a must read for all who want to know how the left strategize. what's that you say, a strengthening work force and recovering economy or wellien indeed. >> they want to slow the economy before the election and if you don't believe that -- >> that was a year and a half ago. >> i have a bridge i want to sell you in oakland. that's what the republicans and obstructionists in congress is about. >> joining us is cnbc's amman jabbers. you're the man with the answers. mitt romney is walking on stage and we'll have to go to him shortly but is it a good day for the american economy or not, tell us? >> it's definitely a good day. the auto sales number was good, consumer confidence up, but we had truthers, birthers and now we've got jobbers, these people who don't believe the government data here and to those people i would quote carl sagan and say e
former chairman and ceo of ge jack welch tweeted -- welch was backed in his theorizing by master of the outlandish alan west who wrote -- this is orwellian to say the least and representative of saul au lin ski tactics from the book rules for radicals" a must read for all who want to know how the left strategize. what's that you say, a strengthening work force and recovering economy or wellien indeed. >> they want to slow the economy before the election and if you don't believe that...
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jack welch. he'll tell me why in a moment. despite the rally since 2009, investors have yanked hundreds of billions of dollars out of the market. is there a lost generation of investors? can they come back in.
jack welch. he'll tell me why in a moment. despite the rally since 2009, investors have yanked hundreds of billions of dollars out of the market. is there a lost generation of investors? can they come back in.
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jack welch, conservative guy, came out and said unbelievable jobs numbers. these chicago guys will do anything. is there any reason for any of us to believe that these numbers might be wrong or cooked or -- >> well, it's a good question. first of all, the most important number is going to be the one that comes out 30 days from now. remember we have one more unemployment rate, unemployment picture that comes out the friday before the election. so that will obviously be the most important one in terms of the outcomes of who wins this election. but, yeah, this was generally a pretty good number. i want to go back to that point. we still have this wide diversion in these two reports in terms of where the employment picture is. one other statistic, if i may, that's not so rosie is when we look at the broad rate of unemployment, which includes people who can't find a full-time job and we include people who have dropped out of the labor force because they've just become discouraged, that number is still 14.7%. that's still a very high number and very economically t
jack welch, conservative guy, came out and said unbelievable jobs numbers. these chicago guys will do anything. is there any reason for any of us to believe that these numbers might be wrong or cooked or -- >> well, it's a good question. first of all, the most important number is going to be the one that comes out 30 days from now. remember we have one more unemployment rate, unemployment picture that comes out the friday before the election. so that will obviously be the most important...
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you are jack welch. jack, you've got to take this opportunity while everybody is listening to you to actually say, yes, anderson, i'm taking that tweet back. i'm going to send a new tweet to say i was exaggerating. there are problems bls should look into but to throw out an accusation that's like asking the government how often do you beat your wife. >> i should have had a question mark at the back of it, ali, let's face it, but the facts, are ali, no matter how you want to look at this, we had 25 economists polled before this number came out. the average number they expected was about 115,000. not one of them -- >> yes. >> had a number below 1.1. >> labor secretary hilda so li s shot back at the critics telling cnn it was insulting for people to suggest her department was manipulating numbers for the president's benefit. >>> the obama and romney campaigns are ratcheting up the rhetoric in the wake of the jobs report. our political editor paul steinhauser hats candidate's comments. one set of numbers, tw
you are jack welch. jack, you've got to take this opportunity while everybody is listening to you to actually say, yes, anderson, i'm taking that tweet back. i'm going to send a new tweet to say i was exaggerating. there are problems bls should look into but to throw out an accusation that's like asking the government how often do you beat your wife. >> i should have had a question mark at the back of it, ali, let's face it, but the facts, are ali, no matter how you want to look at this,...
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. >> christy, some of the attacks from conservatives, such as jack welch, saying they don't believe the numbers. they believe the books are cooked essentially. explain the process of how we reach these numbers today? >> there's spin, and then there are conspiracy theories, and the spin, which is valid, if spin can be valid, is that, you know, look, you still have only 114,000 jobs created on balance. anha's -- you know, you th ty pu together. right? one of them is a survey of people at home where you call anthpele s yes or no and explain how. the other is a survey of employers where they ask are you hiring? that's where the 114,000 number comes om114,000 number might not catch everyone who is working part-time from home or just working part-time or doing some kinds of contract work, so that's why sometimes thercran bwe no, they're noin t bt of bls cooking the books for some political reason. i would bring this one point, suzanne, if they were, wouldn't they have done that after the president gave his speech in charlotte? instead he gave a speech in charlotte, and it was a bad report the
. >> christy, some of the attacks from conservatives, such as jack welch, saying they don't believe the numbers. they believe the books are cooked essentially. explain the process of how we reach these numbers today? >> there's spin, and then there are conspiracy theories, and the spin, which is valid, if spin can be valid, is that, you know, look, you still have only 114,000 jobs created on balance. anha's -- you know, you th ty pu together. right? one of them is a survey of people...
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doug we talked about a tweet from jack welch. did that ignite the controversy? >>reporter: the recovery surrounding friday's release of the unemployment numbers continues to swirl after jack welch, the respected former c.e.o. of g.e. treated "unbelievable jobs numbers. the chicago guys will do anything. can't debate? change numbers." facing criticism if the tweet he stuck by the criticism of the numbers. >> this number is made up of a whole mess of assumptions: who is participating, who is not working, who is trying for work, who has dropped out. it just begs the question. i think there ought to be a good discussion how this number is calculated. >>reporter: most analysts and the obama campaign are dismanage the criticisms as "without evidence." >> we wonder why institutions in this country are, the perception of institutions are failing, because people go on tv and make sufficient h stuff -- make stuff up. >> they had full charge of the first two years and the policies this president put into place actually made it worse, including the fact that obamacare is ta
doug we talked about a tweet from jack welch. did that ignite the controversy? >>reporter: the recovery surrounding friday's release of the unemployment numbers continues to swirl after jack welch, the respected former c.e.o. of g.e. treated "unbelievable jobs numbers. the chicago guys will do anything. can't debate? change numbers." facing criticism if the tweet he stuck by the criticism of the numbers. >> this number is made up of a whole mess of assumptions: who is...
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jack welch took a look at these numbers. remember, thereof a surge in employment like we haven't seen in 30 years that was announced on friday. jack welch says, unbelievable jobs numbers. these chicago guys will do anything, can't debate, so change numbers. do you think they changed the numbers? >> i do. i do. and i think that they did a lot of those -- a lot of monkey business. i'm telling you n a month and a half from now, they will do a readjustment like has been happening for the last year and a half. they will do a readjustment and the number will be 8.2 or more. again, the 8.2, it's not a real number because people that are out of work aren't considered unemployed. >> steve: we get that. but if you're making the allegation that this administration is monkeying with the numbers to make them look good, that is very damning. >> everyone knows he didn't want to lay off certain workers in certain categories and that's been well documented and well reported that he didn't want to lay off certain workers in certain categories
jack welch took a look at these numbers. remember, thereof a surge in employment like we haven't seen in 30 years that was announced on friday. jack welch says, unbelievable jobs numbers. these chicago guys will do anything, can't debate, so change numbers. do you think they changed the numbers? >> i do. i do. and i think that they did a lot of those -- a lot of monkey business. i'm telling you n a month and a half from now, they will do a readjustment like has been happening for the last...
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. >> former white house press secretary robert gibbs today also touched on the jack welch tweet. >> you wonder why institutions in this country are the perception of institutions in the country are failing because people go on tv and make stuff up. ask for the evidence and he said he had none. >> we continue to make progress. 31 consecutive months of private sector job growth. certainly we are not where we want to be. >> many analysts who combed through the unemployment data released attribute the decline to a big increase in part-time work. people looking for full-time jobs unable to find them and they are settling for part-time jobs. there were some 582,000 new part-time jobs created last month. the bureau of labor statistics categorizes the number as "part time for economic reasons." not exactly a vote of confidence in the state of the economy, shannon. >> shannon: all right, doug. a lot more on the numbers. we will break them down later with ben stein, well known economist and author and humorist as well. we might need a little bit of that. thank you, doug. is the lower unemployment
. >> former white house press secretary robert gibbs today also touched on the jack welch tweet. >> you wonder why institutions in this country are the perception of institutions in the country are failing because people go on tv and make stuff up. ask for the evidence and he said he had none. >> we continue to make progress. 31 consecutive months of private sector job growth. certainly we are not where we want to be. >> many analysts who combed through the unemployment...
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. >> peter: and interesting 7.8% number, economists and jack welch, where did this come from, the raw numbers put out and a disconnect. >> clayton: we have to look the at revised numbers a few months later and maybe find out in december what the true number was or were in september. but we have new numbers out of ohio. the all important battle ground state of ohio where president obama has been leading significantly there. in recent polls, well not significantly, but 5 or 4 points accord to go what karl rove was talking about, 49-50%. and looking at virginia, and there mitt romney has pulled ahead of president obama 49-48% within the mar begin of error, but definitely experiencing a debate bounce. and speaking of which, let's talk about the money they have been able to raise because this plays into how people are feeling after the debate as well. in just the 48 hours since the debate, mitt romney has been able to raise 12 million dollars online and just staggering numbers. >> peter: at the same time, the president announced that they raised 181 million dollars in september, about 1.8
. >> peter: and interesting 7.8% number, economists and jack welch, where did this come from, the raw numbers put out and a disconnect. >> clayton: we have to look the at revised numbers a few months later and maybe find out in december what the true number was or were in september. but we have new numbers out of ohio. the all important battle ground state of ohio where president obama has been leading significantly there. in recent polls, well not significantly, but 5 or 4 points...